NAIL SALON BUSINESS PLAN SAMPLE AND FEASIBILITY STUDY REPORT FORMAT
Apart from acting as a guide, this nail salon business plan would also ensure that the business is able to get critical funding through loan applications for which this is a prerequisite.
With a growing business potential in the nail salon sector of the beauty care industry and with growing interests shown by entrepreneurs for investment in this business, it is only logical that a good business plan sample should be made available those without knowledge on how to write one.
This article will be following a series of guidelines and requirements. All the entrepreneur need do is to simple follow these guidelines while brainstorming on the unique requirements of his/her business.
It is believed that at the end, the entrepreneur will have produced a sound and effective nail spa business plan unique to him/her.
– Executive Summary
– Products and Services
– Our Vision
– Our Mission
– Target Market
– Payment Channels
– Publicity and Advert Strategy
– Competitive Advantage
– Market Analysis/Trends
– Source of Revenue/Projection
– Start-up Funding
With an increasing demand of quality and innovative nail salon services, Nadine’s Nail Salon is set to meet these demands and even surpass them through the provision of innovative and highly professional nail services in the gel wrap, manicures, pedicures, and also providing additional spa services to our clients.
With our first outlet located at Jacksonville, Florida, we have ambitions of expanding our services to cover the whole of Florida within our first 5 years of operations. As a means of attracting patronage, we will be providing monthly discounts to our clients.
Products and Services
The products and services to be offered at Nadine’s Nail Salon include pedicures, manicures, and other assorted and very attractive nail care. Among these are a rich collection of colors and designs to fit with our client’s skin types and their dressing.
Also, there will be spa treatments and also the sale of waxes which are on high demand around the United States. The services rendered are all tailored to meet customer needs and satisfaction.
Our vision at Nadine’s Nail Salon is the provision of world class pedicure and manicure services using a well motivated and highly professional workforce to realize this. The client is at the center of our vision, as all our services are tailored around client satisfaction.
We will be building our services around the client because we realize that a satisfied client is a loyal client that will bring in others.
At Nadine’s, we will ensure that every client leaving our outlets is fully satisfied and our doors will be open to receive complaints and treat them with utmost dispatch to win client patronage and trust.
Our target market will cover adolescents, teenagers, and adults. Although a mainly female dominated industry, we will be providing manicure and pedicure services to males. Among the profile of our target clients will be special packages for tourists, provision of our services to school seniors for all upcoming special events within their calendar such as dance competitions etc. Also, our target clients will include professional women, housewives and celebrities.
We will have an array of payment options provided solely for ease of payment of services by our clients. These options are to lift the burdens off the shoulders of our esteemed clients who might have difficulties having to pay for services due to the possession of a single payment option.
Among these payment options are the acceptance of cheques, mobile money transfers, POS payment options, cash payments among other assorted payment channels.
Publicity and Advert Strategy
Because we realize the importance of publicity to business growth, we will be taking full advantage of this through the use of local TV and radio stations to disseminate our services to the population.
Also, we will be taking advantage of the internet through the building of a website which will contain all the services being rendered at Nadine’s with ease of navigation. Paid adverts will be placed on social media platforms such as Facebook, Twitter and Instagram with very attractive samples of our services on display.
Word of mouth marketing will be strongly utilized through the encouragement of our satisfied clients to spread the word to their friends, families and acquaintances.
Due to the stiff competition in the nail salon business world, we will be providing innovative services to set us apart from our competition. These nail care services and designs will come at very pocket friendly charges to our clients. Also, we will be hiring the services of a marketing strategist that will be coordinating our business innovations. To add to that, all our workforce at Nadine’s Nail Salon will be highly motivated through attractive remuneration packages to win their total commitment.
The nail salon industry has constantly witnessed changing innovations, with customer appetite on the rise and the need to meet the desires of the clients and even surpass them also being pursued.
With this increasing potential in the industry, nail salon business has had to either innovate and follow the competition, or run out of business due to unsatisfactory services leading to clients being lost to rival nail salons.
One important aspect of the nail salon business has been word of mouth marketing. Clients are more likely to patronize a nail salon because their friends told them such salons were ok.
Sources of Revenue/Projection
Our main source of revenue will be through the nail salon services we render. Also revenues will be generated from the spa body treatment services on offer by Nadine’s. Within our first 3 years of operations, we will be having a projected income shown on below;
– First Year $150,000
– Second Year $250,000
– Third Year $550,000
Funding for this nail salon business will come solely from two sources; these include savings made solely for this purpose, and the use of debt financing. The savings will cover 30% of total funding, while a loan facility will be sourced from a reputable bank.
This is a sample nail salon business plan, with key areas highlighting the different aspects of the business and procedures involved.